TrackingPoint Restructures, Accepting Orders

TrackingPoint announced the company has completed a restructuring of its finances and operations, and it is now working to fulfill its order backlog. The company is also accepting new orders.

As previously reported, the company stopped taking orders in the spring. According to a company statement, rapid growth (nearly 300% year over year) overwhelmed the company management.

“This is a new beginning for TrackingPoint,” said TrackingPoint CEO John McHale. “We will focus intently on the consumer, continue to innovate, and operate in a way that ensures long term success.”

As part of the restructuring, McHale, a company founder, returned to his former position as company CEO. John Lupher, another founder, has returned to the company and reassumed his previous role as vice president of engineering. The company’s investors include the Friedkin Group, Goff Capital Partners, and McHale Labs.

Then I hope they kept their bankruptcy attorney on retainer because this is going to be a real short comeback.

tazman66gt

so, rapid growth caused them to go bankrupt? never heard that before, “our sales are through the roof, lets go bankrupt!”

Joshua

that’s actually one of the most common reasons for bankruptcy, when you have more interest than capability you have to take out a loan to increase capability, the repayment on the loan tightens your margins, then if you get hit by anything, you don’t have the margin to absorb it.

tony

“rapid growth (nearly 300% year over year) overwhelmed the company management ”
First time I have heard of that as a reason.

Brett

Is that Richard Ryan?
…Ok, just watched the end of the video. He is getting places.

LCON

Is it me or do those Shot glass look like the goggles on the cover of Ghost Recon future soldier? Any Way Figured they were coming back.